Saudi Arabian developer Midad Real Estate has signed an agreement with the state-owned developer Diriyah Company to invest SAR 3.1 billion (US$827 million, €760 million, £652 million) in the creation of Four Seasons Hotel and Private Residences Diriyah.

The property's footprint will measure 235,938sq m in the historic town of Diriyah on the northwestern outskirts of the Saudi Arabian capital Riyadh. 

Diriyah is becoming a heritage and tourism destination because it served as the capital of the first Saudi state (between 1727-1818). Preserved historic palaces, mosques and buildings made from earth in the At-Turaif district are a UNESCO World Heritage Site. 

The 159-key hotel and residences is expected to open in 2028 and it will be one of nearly 40 luxury hotels in the “City of Earth” masterplan for Diriyah.

These hotels are expected to contribute to the Kingdom’s Vision 2030, driving tourism, investment, job creation and sustainable economic impact. Read about fashion house Armani’s plan to open a hotel in the Diriyah development here.

In 2022, Four Seasons originally announced the agreement with the masterplan developer, Diriyah Gate Development Authority, to operate a property in Diriyah. The operator said at the time that the hotel will have a wellness spa with seven treatment rooms and a fitness centre, as well as two outdoor pools with private cabanas. It will also have four dining venues, including a poolside restaurant and a sunset lounge. 

Midad Real Estate projects

Midad Real Estate will lead the development of this property, adding to its portfolio of luxury hospitality projects.

Other Four Seasons projects Midad Real Estate is working on include the Four Seasons Hotel and Private Residences Jeddah at the Corniche, on the Red Sea, which is due to open in 2027.

In November last year, Midad Real Estate also signed an agreement for a joint venture with Kerzner International to build the Atlantis Jeddah and One&Only Jeddah. 

The investment is worth SAR 7.6 billion (US$2.0 billion, €1.9 billion, £1.6 billion). 

Both properties will feature guest rooms and residences as part of a waterfront development that will also have a waterpark, aquarium, retail, an entertainment pier and more than 20 dining venues.